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Porsche halts sale of EV over battery fire fears

Porsche halts sale of EV over battery fire fears

Yahoo2 days ago

Porsche has ordered dealers to stop selling one of its electric models amid fears that the car will catch fire.
The first-generation Taycan – a model blighted by a string of safety malfunctions since its launch six years ago – has been taken off the market.
It is understood Porsche fears 'a batch' of the high-end sports cars have a fault within their battery packs.
Electric car fires in the UK have increased by 77 per cent between 2022 and 2024, figures from QBE Insurance suggest, with fire brigades called out to 232 incidents last year.
The Taycan, which was Porsche's first mass-produced electric vehicle (EV), has been subject to a dozen safety recalls in the past four years, including brake, suspension and welding defects.
Orders to halt sales last week are understood to relate to a previous recall issued in November by the Driver and Vehicle Standards Agency (DVSA).
The gremlin involves a potential short circuit within the Taycan's battery, which 'could lead to thermal events and later to a fire in the vehicle'.
Porsche wrote to its official used car dealers ordering them to immediately take a number of the affected Taycan models off sale, according to Car Dealer Magazine.
A Porsche spokesman said: 'Enhanced battery monitoring software is anticipated to become available for first generation Taycan models towards the end of June. With its imminent arrival, we've advised our retail partners not to sell a small, specific batch of first generation Taycan models until the software update is live.'
In September 2023, a £200,000 Taycan was reported to have burst into flames in the middle of a busy street in the city of Chongqing, south-western China.
Global sales of the troublesome model plummeted 49 per cent last year – a slump the German manufacturer blamed on the Taycan's mid-cycle facelift and a slower-than-planned electric uptake.
UK owners impacted by the latest fire safety issue have been sent letters detailing the problem. A letter seen by The Telegraph states: 'Cases have come to light in which a short circuit within the high-voltage battery has occurred ... subsequently causing the vehicle to catch fire.'
Until a solution is made available, owners must take the cars to a local Porsche garage every 60 days for a three-hour inspection.
They have been told they can continue to use their Taycans before they are repaired, but are 'urgently' asked to only charge the battery to a maximum of 80 per cent.
They are also advised not to charge under a car cover or next to a building. Such limitations significantly hinder owners from charging the vehicles at home.
The letter, signed by Porsche's product and technical compliance manager, states that the manufacturer 'very much regrets the circumstances'.
Taycan models are among a string of high-end EVs that struggle to retain their value after rolling off the forecourt.
Analysis by car website Parkers shows that a new Taycan S cost £186,300 in January last year, but some used models now can be bought for just £98,360. Across the board, separate research shows a typical EV now retains only 49 per cent of its value after 24 months, compared with 70 per cent for diesel and petrol cars, according to Cox Automotive.
Porsche had previously said that EVs would account for 80 per cent of its new vehicle sales by the end of the decade, but watered down that target last summer. Lutz Meschke, the manufacturer's finance chief, said in November that the company would stick with petrol engines for 'much longer' than previously planned.
The Telegraph approached Porsche for further comment.
A DVSA spokesman said: 'Road safety is our absolute priority, and getting recalled vehicles fixed promptly has a huge benefit for all road users.
'There is an active safety recall on Porsche Taycans produced between 2019 and 2024 for which the manufacturer is in the final stages of developing a remedy. This involves concerns related to the vehicle's electrical propulsion system.'
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Jonathan Anderson Has Been Appointed Sole Creative Director of Dior
Jonathan Anderson Has Been Appointed Sole Creative Director of Dior

Vogue

time31 minutes ago

  • Vogue

Jonathan Anderson Has Been Appointed Sole Creative Director of Dior

Can Anderson recreate the same magic at Dior? After years of tremendous growth — revenue went from €2.2 billion in 2017 to €9.5 billion in 2023, according to HSBC estimates — Dior has been hit by the luxury downturn and global turmoil. Sales decreased to €8.7 billion in 2024, per HSBC. In the first quarter, sales of LVMH's fashion and leather goods division were down 5 per cent, positioning the group's fashion business in the middle of a polarised market. 'Dior has to be revived,' Solca told Vogue Business back in April. Jonathan Anderson's Spring/Summer 2025 show for Loewe received a standing ovation from many of his peers as well as Arnault. Photo: Isidore Montag / Anderson's Spring/Summer 2024 for his namesake brand JW Anderson featured hoodies and shorts molded from plasticine. Photo: Filippo Fior / The house now appears to have everything in place for a revival. It recently hired Pierre-Emmanuel Angeloglou as deputy CEO in April, after poaching Miu Miu CEO Benedetta Petruzzo in October to be its managing director. Both executives report to Arnault. Anderson, who has a reputation as a hard-working and brilliant designer, surely has the ability to blend in with the Dior DNA, juggling its strong heritage and codes. 'Ever since he started working on menswear back in February, he's been spending a lot of time in the archives looking at all the different elements of the brand that the different designers at its helm over the years have developed — like Christian Dior or Yves Saint Laurent, John Galliano, Raf Simons,' Arnault says. Besides facing the challenge of working across men's and women's lines, Anderson will also earn his couture stripes as Dior is among the handful of houses to have turned couture into a thriving business. And while he hasn't been at a couture house before, Anderson is known for his conceptual shows and couture spirit, especially visible in his SS25 show, which featured 'reimagined French golden age couture dresses, all hoops and semi-sheer flower prints', as Vogue Runway's Sarah Mower described them. The fashion world will have to wait until January 2026 to see Anderson's first couture designs for Dior, as the house is going to skip the couture season in July. 'Maria Grazia had 20 couture dresses in her cruise show, which have kept the atelier busy,' Arnault says. Arnault also confirmed that Anderson's first women's show for Dior will be during the all-important September season. 'In the 25 years I've been working in fashion, there have never been so many creative changes,' she muses. 'We will see the visions of so many different artistic directors for the industry. I think it's going to bring up a lot of emotion and excitement. And that's what fashion is about.' Anderson will find himself head-on with Matthieu Blazy at Chanel, alongside a number of other high-stake debuts. Anderson's first menswear show for Dior will be in June, as previously reported. Would Dior ever stage co-ed? 'I think for the time being we're going to keep it separate. You never know what can happen, but we don't have any plans to reduce the number of shows,' Arnault replies. What about JW Anderson — will he be staying at the helm? 'It's his namesake brand, so obviously it is a project that is really important to him. Yes, he's going to stay involved in JW Anderson, but maybe in a different way. I think this would be more of a question for him.' Watch this space.

What Matheus Cunha brings to Manchester United: Confidence, direct dribbling and a striker's instinct
What Matheus Cunha brings to Manchester United: Confidence, direct dribbling and a striker's instinct

New York Times

time31 minutes ago

  • New York Times

What Matheus Cunha brings to Manchester United: Confidence, direct dribbling and a striker's instinct

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Cunha's up for the @PremierLeague goal of the month! ✨ — Wolves (@Wolves) May 2, 2024 Disciplinary problems are a concern, as Cunha saw the red mist and was sent off against Bournemouth in the FA Cup. He was also suspended after an altercation with a member of staff after a game against Ipswich. Whether United can control those outbursts and integrate him into a harmonised dressing room, will be crucial considerations away from the cameras. On the pitch, however, this is a move that makes sense. There is flair to Cunha's game. He is forward-thinking, flashy and happy to say: 'fine, I'll do it myself'. He also trusts himself from distance, when outnumbered, and on his weaker foot. United need a player high on confidence who is willing to step up alongside Fernandes to stamp some authority on a stuttering attack, and there aren't many others in the Premier League as self-assured as him.

Novartis Pluvicto™ demonstrates statistically significant and clinically meaningful rPFS benefit in patients with PSMA-positive metastatic hormone-sensitive prostate cancer
Novartis Pluvicto™ demonstrates statistically significant and clinically meaningful rPFS benefit in patients with PSMA-positive metastatic hormone-sensitive prostate cancer

Yahoo

time32 minutes ago

  • Yahoo

Novartis Pluvicto™ demonstrates statistically significant and clinically meaningful rPFS benefit in patients with PSMA-positive metastatic hormone-sensitive prostate cancer

Ad hoc announcement pursuant to Art. 53 LR At interim analysis, PSMAddition trial met its primary endpoint showing statistically significant and clinically meaningful benefit for Pluvicto™ plus hormone therapy versus hormone therapy alone, with positive trend in overall survival (OS)1 Pluvicto is already approved for metastatic castration-resistant prostate cancer (mCRPC) and now shows potential in patients in an earlier disease setting1,2 Novartis to present results at an upcoming medical meeting and, based on FDA feedback, will submit for regulatory review in the second half of the year Novartis is investigating a broad portfolio of RLTs in advanced cancers, including breast, colon, lung and pancreatic and is investing in multiple manufacturing facilities, with industry-leading infrastructure to accelerate delivery of RLTs to patients Basel, June 2, 2025 – Novartis today announced topline results from a pre-specified interim analysis of the Phase III PSMAddition trial. The trial met its primary endpoint with a statistically significant and clinically meaningful benefit in radiographic progression-free survival (rPFS) with a positive trend in overall survival (OS) in patients with prostate-specific membrane antigen (PSMA)-positive metastatic hormone-sensitive prostate cancer (mHSPC) treated with radioligand therapy (RLT), Pluvicto™ (lutetium (177Lu) vipivotide tetraxetan), in combination with standard of care (SoC) versus SoC alone1. In PSMAddition, the SoC is a combination of androgen receptor pathway inhibitor (ARPI) therapy and androgen deprivation therapy (ADT)3. Almost all mHSPC patients ultimately progress to metastatic castration-resistant prostate cancer (mCRPC)4. There is a need for additional treatment options with novel mechanisms of action that further delay progression, prolong OS and improve disease control compared to the current SoC, while showing a favorable safety and tolerability profile. 'The progression from metastatic hormone-sensitive prostate cancer to castration-resistant disease remains a formidable challenge that can profoundly impact the survival of patients," said Shreeram Aradhye, M.D., President, Development and Chief Medical Officer at Novartis. "These results further strengthen our confidence in Pluvicto as a PSMA-targeted radioligand therapy. Following the recent FDA approval based on the PSMAfore trial in metastatic castration-resistant prostate cancer, these data suggest using it in an earlier disease setting could advance care and address a significant unmet need for hormone-sensitive prostate cancer patients." This is the third positive read-out for Pluvicto in a Phase III trial, following the VISION and PSMAfore studies5,6. Results from PSMAddition in mHSPC show potential for treatment in an earlier setting with Pluvicto, which was recently granted US Food and Drug Administration (FDA) approval for earlier use in mCRPC, based on results from PSMAfore1,2. Novartis is harnessing the innovation of world-class scientists, strategic partnerships and one of the industry's most competitive pipelines to explore the potential of new, targeted therapies and precision medicine platforms to address the greatest unmet needs in prostate cancer. Data will be presented at an upcoming medical meeting and, based on FDA feedback, will be submitted for regulatory review in the second half of the year. About PSMAddition studyPSMAddition (NCT04720157) is a Phase III, open-label, prospective, 1:1 randomized study comparing the efficacy and safety of Pluvicto in combination with SoC (ARPI + ADT) vs. SoC alone in adult patients with PSMA-positive mHSPC3. Patients randomized to the SoC alone arm are allowed to crossover to receive Pluvicto, upon confirmation of radiographic progression by blinded independent review committee (BIRC) and per the discretion of the treating physician3. The primary endpoint is rPFS, defined as the time to radiographic progression by PCWG3-modified RECIST V1.1 (as assessed by BIRC) or death3. The key secondary endpoint of OS is defined as time to death due to any cause3. About Pluvicto™ (INN: lutetium (177Lu) vipivotide tetraxetan)Pluvicto is an intravenous RLT that combines a targeting compound (a ligand) with a therapeutic radionuclide (a radioactive particle, in this case lutetium-177)5,7. After administration into the bloodstream, Pluvicto binds to PSMA-expressing target cells, including prostate cancer cells that express PSMA, a transmembrane protein5,7. Once bound, energy emissions from the radioisotope damage the target cells and nearby cells, disrupting their ability to replicate and/or triggering cell death7. Pluvicto is the only PSMA-targeted agent approved for PSMA-positive mCRPC and is the first targeted RLT to demonstrate a clinical benefit for patients with PSMA-positive mHSPC1. Novartis is investigating Pluvicto in earlier stages of disease, including oligometastatic prostate cancer (PSMA-DC, NCT05939414). Novartis and radioligand therapy (RLT)Novartis is reimagining cancer care with RLT for patients with advanced cancers. By harnessing the power of targeted radiation and applying it to advanced cancers, RLT is designed to deliver treatment directly to target cells, anywhere in the body8,9. Novartis is investigating a broad portfolio of RLTs, exploring new isotopes, ligands and combination therapies to look beyond gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and prostate cancer and into breast, colon, lung and pancreatic cancer. Novartis has established global expertise, with specialized supply chain and manufacturing capabilities across its network of RLT production sites. To support growing demand for RLTs, we have expanded production capabilities in Millburn (NJ), Zaragoza (Spain), Ivrea (Italy) and a state-of-the-art facility in Indianapolis (IN). In Carlsbad (CA), Novartis is establishing its third US-based RLT manufacturing site to support expanded use of RLTs, create resiliency in its manufacturing network and optimize the delivery of medicines to patients on the West Coast. DisclaimerThis press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as 'potential,' 'can,' 'will,' 'may,' 'could,' 'trend,' 'potentially,' 'upcoming,' 'progression,' 'progress,' 'investigating,' 'investing,' 'look beyond,' or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for Pluvicto, or regarding potential future revenues from Pluvicto. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that Pluvicto will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that Pluvicto will be commercially successful in the future. In particular, our expectations regarding Pluvicto could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. About Novartis Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people's lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach nearly 300 million people worldwide. Reimagine medicine with us: Visit us at and connect with us on LinkedIn, Facebook, X/Twitter and Instagram. References Data on file. Pluvicto [prescribing information]. Millburn, NJ: Advanced Accelerator Applications USA, Inc.; 2025. An International Prospective Open-label, Randomized, Phase III Study Comparing 177Lu-PSMA-617 in Combination With SoC, Versus SoC Alone, in Adult Male Patients With mHSPC (PSMAddition). identifier: NCT04720157. Updated March 5, 2025. Accessed June 2, 2025. Oing C, Bristow RG. Systemic treatment of metastatic hormone-sensitive prostate cancer—upfront triplet versus doublet combination therapy. ESMO Open 2023l doi: 10.1016/ Sartor O, J. de Bono KN, Chi K, et al. Lutetium-177–PSMA-617 for Metastatic Castration-Resistant Prostate Cancer. NEJM 2021; doi: 10.1056/NEJMoa2107322. Morris M, Castellano D, Herrmann K, et al. 177Lu-PSMA-617 versus a change of androgen receptor pathway inhibitor therapy for taxane-naive patients with progressive metastatic castration-resistant prostate cancer (PSMAfore): a phase 3, randomised, controlled trial. The Lancet 2024; doi: 10.1016/S0140-6736(24)01653-2. University of Chicago Medicine. Lutetium-177 PSMA Therapy for Prostate Cancer (Pluvicto). Accessed June 18, 2024. Jadvar H. Targeted Radionuclide Therapy: An Evolution Toward Precision Cancer Treatment [published correction appears in AJR Am J Roentgenol. 2017 Oct;209(4):949. doi: 10.2214/AJR.17.18875]. AJR Am J Roentgenol. 2017;209(2):277-288. doi:10.2214/AJR.17.18264 Jurcic JG, Wong JYC, Knoc SJ, et al. Targeted radionuclide therapy. In: Tepper JE, Foote RE, Michalski JM, eds. Gunderson & Tepper's Clinical Radiation Oncology. 5th ed. Elsevier, Inc. 2021;71(3):209-249 # # # Novartis Media RelationsE-mail: Novartis Investor RelationsCentral investor relations line: +41 61 324 7944E-mail: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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